USD/CAD capped by 1.3260
FXStreet (Edinburgh) – The greenback remains unable to gather further traction vs. its Canadian peer on Tuesday, with USD/CAD navigating the mid-1.3200s, still in red territory.
USD/CAD paid no attention to data
The pair stayed largely muted after today’s US releases came in on the softer side, with August’s Retail Sales, Industrial Production and Capacity Utilization plus September’s Empire State index, all missing previous forecasts.
USD, however, is holding on to daily gains, maybe more interested in the upcoming FOMC meeting on Thursday than in the current string of poor results.
USD/CAD levels to consider
At the moment the pair is losing 0.10% at 1.3252 USD/CAD with the next support at 1.3226 (low Sep.14) ahead of 1.3154 (low Sep.9) and then 1.3116 USD/CAD (low Aug.31). On the upside, a break above 1.3290 (high Sep.10) would open the door to 1.3310 USD/CAD (high Sep.8) and finally 1.3327 (high Aug.31).
The greenback remains unable to gather further traction vs. its Canadian peer on Tuesday, with USD/CAD navigating the mid-1.3200s, still in red territory…
(Market News Provided by FXstreet)